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HDFC Bank reorganises business verticals, digital to form backbone

Private lender on Friday said it is reorganising itself into three areas of Business Verticals, Delivery Channels and Digital to further build its execution muscle, under “Project Future – Ready”. The creation of focused business verticals and delivery channels will enable it to capitalise on the opportunities across customer segments in the time to come, it said.

The lender said it will re-double its efforts on its business verticals that include Corporate Banking, Retail Banking, Private Banking, Government and Institutional Banking, Retail assets and Payments. In addition, the lender is increasing its focus on Commercial Banking (MSME vertical).

“We are creating engines of growth with top tier talent backed by technology and digital transformation to capitalise on opportunities that will accrue in the coming time,” said Sashi Jagdishan, MD, HDFC Bank. “They are in our mind Future – Ready teams. I am sure this structure will create the necessary strategic and execution agility that we need to serve our customers across India & Bharat, Retail, Commercial (MSME) and Corporate segments.”

The bank has four broad Delivery Channels; Branch Banking, Tele-service/sales, Sales Channels aligned with the business verticals and Digital Marketing. The Bank will continue to invest in all these channels as part of the effort to enhance customer experience. All the businesses and delivery channels will be backed by digital at its core.

While Kaizad Bharucha, the executive director of the bank will continue to drive the Wholesale Bank, Rahul Shukla it’s corporate banking head will now be responsible to drive the Commercial Banking and rural vertical. While it’s investment banking head, Rakesh Singh will also be responsible for Marketing, Retail Liability Products and Managed Programmes.

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